Jones Trading Reiterates Buy Rating for Annaly Capital Management (NYSE:NLY)

Annaly Capital Management (NYSE:NLY)‘s stock had its “buy” rating reiterated by equities researchers at Jones Trading in a research report issued to clients and investors on Friday,Benzinga reports. They currently have a $21.00 target price on the real estate investment trust’s stock. Jones Trading’s target price indicates a potential upside of 8.70% from the company’s current price.

NLY has been the topic of a number of other reports. JPMorgan Chase & Co. cut their price objective on shares of Annaly Capital Management from $21.00 to $19.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 16th. Barclays assumed coverage on shares of Annaly Capital Management in a research report on Monday, January 6th. They set an “equal weight” rating and a $19.00 price target on the stock. Royal Bank of Canada reiterated an “outperform” rating and issued a $22.00 price objective on shares of Annaly Capital Management in a report on Monday, February 10th. JMP Securities reissued a “market perform” rating on shares of Annaly Capital Management in a report on Thursday, January 23rd. Finally, Keefe, Bruyette & Woods decreased their price target on Annaly Capital Management from $21.00 to $20.15 and set an “outperform” rating for the company in a research note on Tuesday, April 8th. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Annaly Capital Management has an average rating of “Moderate Buy” and a consensus price target of $21.10.

Annaly Capital Management Stock Down 0.5 %

Shares of NYSE:NLY opened at $19.32 on Friday. The company’s 50-day moving average price is $19.99 and its 200 day moving average price is $19.78. The company has a market cap of $11.54 billion, a PE ratio of 12.15, a P/E/G ratio of 4.89 and a beta of 1.25. Annaly Capital Management has a fifty-two week low of $16.60 and a fifty-two week high of $22.11.

Annaly Capital Management (NYSE:NLY) last released its quarterly earnings results on Wednesday, April 30th. The real estate investment trust reported $0.72 earnings per share for the quarter, beating analysts’ consensus estimates of $0.71 by $0.01. Annaly Capital Management had a return on equity of 14.95% and a net margin of 20.70%. The company had revenue of $186.64 million for the quarter, compared to analysts’ expectations of $418.04 million. As a group, equities analysts anticipate that Annaly Capital Management will post 2.81 EPS for the current year.

Hedge Funds Weigh In On Annaly Capital Management

A number of hedge funds and other institutional investors have recently modified their holdings of NLY. Inlight Wealth Management LLC purchased a new stake in Annaly Capital Management during the first quarter valued at about $25,000. Financial Gravity Asset Management Inc. acquired a new position in Annaly Capital Management in the 1st quarter worth approximately $28,000. Assetmark Inc. purchased a new position in Annaly Capital Management during the 4th quarter worth approximately $31,000. Blue Trust Inc. raised its stake in Annaly Capital Management by 78.5% during the 4th quarter. Blue Trust Inc. now owns 1,630 shares of the real estate investment trust’s stock valued at $33,000 after purchasing an additional 717 shares during the period. Finally, Smallwood Wealth Investment Management LLC purchased a new stake in shares of Annaly Capital Management in the first quarter valued at $36,000. Institutional investors and hedge funds own 51.56% of the company’s stock.

About Annaly Capital Management

Annaly Capital Management, Inc, a diversified capital manager, engages in mortgage finance. The company invests in agency mortgage-backed securities collateralized by residential mortgages; non-agency residential whole loans and securitized products within the residential and commercial markets; mortgage servicing rights; agency commercial mortgage-backed securities; to-be-announced forward contracts; residential mortgage loans; and agency or private label credit risk transfer securities.